If you have moved your "master" website into another directory, you have to delete all the slave sites and rebuild them because the existings links can not be updated.
If you don't want to do such "delete", "rebuild" slave site, you can try to create a symbolic link from old master directory to the new one.
Another alternative that present a risk would be to try delete manually the symbolic links currently present in the slave site "deploed" directory and open / resave the slave site to let JMS rebuild the new symbolic link.
We can not guarantee that it will works.
We think that will be be perhaps better to create new "fresh" slave site that will use a copy of the current slave site definition with another deploy directory.
Once the slave is defined, you could re-use the current "configuration.php" to reuse the existing DB.
As you have understood, this is not easy and present some risks.
If you want that we do that with you, you can order our billable support on
www.jms2win.com/download?page=shop.produ...35&category_id=1